State Regulators Encourage Licensees to Renew Early through NMLS

Washington, D.C. - In an effort to remind individuals and businesses to renew their licenses early, the State Regulatory Registry, LLC (SRR), operator of the Nationwide Multistate Licensing System (NMLS), will launch its second annual “Your License is Your Business” campaign Nov. 2.

The Nov. 2 campaign launch also marks the first day renewal applications will be available online.

The goal of this nationwide campaign is to remind businesses and individuals working in non-depository financial services that “Your License is Your Business” and early renewal will lower the likelihood of licenses being terminated after December 31.

Submitting a license renewal request takes only a few minutes and can save hours of work later if the license was to expire.

To help promote the renewal campaign, SRR has launched a new Twitter account @NMLSInfo, where licensees may go to learn more and get timely updates on renewal-related news such as key dates, education opportunities, information sources, and much more.

The Conference of State Bank Supervisors (CSBS) is the nationwide organization of banking regulators from all 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. State banking regulators supervise approximately 5,000 state‐chartered financial institutions. Further, most state banking departments also regulate a variety of non-bank financial services providers, including mortgage lenders. For more than a century, CSBS has given state supervisors a national forum to coordinate supervision of their regulated entities and to develop regulatory policy. CSBS also provides training to state banking and financial regulators and represents its members before Congress and the federal financial regulatory agencies.

A subsidiary of the Conference of State Bank Supervisors (CSBS), the State Regulatory Registry LLC (SRR) is a non-profit entity that operates the Nationwide Multistate Licensing System and Registry (NMLS) on behalf of state financial services regulatory agencies. SRR is governed by an eight-member Board of Managers comprised of state banking and financial regulators and a representative of the American Association of Residential Mortgage Regulators (AARMR). The SRR Board of Managers is responsible for all development, operations, and policy matters concerning NMLS.

The Nationwide Multistate Licensing System and Registry (NMLS) is a web-based system that allows state-licensed non-depository companies, branches, and individuals in the mortgage, consumer lending, money services businesses, and debt collection industries to apply for, amend, update, or renew a license online for all participating state agencies using a single set of uniform applications. Mortgage loan originators employed by insured depository institutions.